Mr. B is a VAT taxpayer. He had the following data for a month, VAT not...
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Mr. B is a VAT taxpayer. He had the following data for a month, VAT not included: Sales Purchase of goods sold: From VAT suppliers From non-VAT suppliers Operating expenses How much is the value-added tax payable for the month? How much was the net income for the month? P 800,000 200,000 120,000 300,000 Mr. B is a VAT taxpayer. He had the following data for a month, VAT not included: Sales Purchase of goods sold: From VAT suppliers From non-VAT suppliers Operating expenses How much is the value-added tax payable for the month? How much was the net income for the month? P 800,000 200,000 120,000 300,000
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To determine the valueadded tax VAT payable for the month we need to calculate the output VAT and in... View the full answer
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Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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